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Microeconomic Theory Old and New: A Student's Guide has two main goals. The first is to give advanced undergraduate and graduate students an understanding of the core model of economics: Walrasian general equilibrium theory. The text presents in detail the three building blocks of Walrasian theory-establishing Pareto efficiency in a barter economy, establishing the efficiency of competitive markets, and accounting for market failure. Each is discussed verbally, graphically, and using mathematics. After reading this book, students will have an understanding of how the seemingly disparate pieces of conventional economics fit together as a system. Although the text focuses on the intellectual framework of standard economic theory, relevant mathematical techniques are discussed. The second goal is to present contemporary extensions and emerging alternatives to the Walrasian model. Some of the theoretical inconsistencies in the model are presented, drawing on the work of Samuelson, Boadway, Chipman and Moore, Ng, and Suzamura, among others. The text then presents challenges to the basic assumptions of the Walrasian system, posed by findings in behavioral economics and evolutionary game theory. Understanding both the Walrasian system and the theoretical and experimental critiques of classical economics is essential to those who ultimately work within the traditional framework and to those looking for an alternative, making this a must read for all students of economics

"For roughly 99% of their existence on earth, Homo sapiens lived as small bands of hunter-gatherers in societies that appear to have solved problems of production, distribution, social equity, and environmental sustainability that our own culture seems incapable of addressing. Limited Wants, Unlimited Means examines the hunter-gatherer society and lifestyle, providing a brief introduction to the rich literature on non-agricultural societies. It examines the economics of traditional societies and presents a multifaceted investigation of how such societies function and what that can teach us in our own quest for sustainability and equality."--Jacket

The need for humankind to reconsider the nature of its relationship with the biophysical world is stressed. Although economic growth is deemed necessary, several points of conflict between current economic development methods & strategies for ensuring social stability in various communities are identified, eg, human population growth, albeit essential, has currently exceeded levels of sustainability. After discussing Nicholas Georgescu-Roegen's (1971) entropy law, several historical examples of the accelerated use of natural resources by humankind are discussed. James Woodburn's (1982) study of the Hadza, a Tanzanian hunter-gatherer society, demonstrates that societies in which distribution is separated from production means are viable. Sundry recommendations for promoting economic, ecological, & social sustainability in the future are offered, eg, stipulating the differences between economic & ecological sustainability. J. W. Parker